Roubini: Bitcoin, ‘The Mother Of All Bubbles,’ is crashing – Business Insider

The cryptocurrency markets were awash in a sea of red during early trading Friday — and one economist says we are in the middle of a major crypto crash. Nouriel Roubini, the chairman of Roubini Macro Associates, on Twitter described bitcoin as “The Mother Of All Bubbles.” His tweet shows bitcoin’s historic run compared with those of others, such as the infamous tulip bulbs. “Now bitcoin crashing below 8000, headed towards 7000. Down 60% from the peak, 40% in a month and over 10% today,” he said. “The Mother of All Bubbles and Biggest Bubble in Human History Comes Down Crashing.” Bitcoin’s dip below $9,000 on Thursday seems to have spooked the market, with bitcoin losing 12% in Friday trading.